Mister Car Wash (MCW) has shared an announcement.
Mister Car Wash Holdings, Inc. has revised its credit agreement, securing $925 million in term loans and $300 million in revolving commitments, with interest rates tied to leverage ratios and an option between SOFR or Base Rate plus a margin. The term loans will amortize quarterly starting in September 2024 and mature in 2031, while the revolving commitments are available until 2029. This amendment includes provisions that limit the company’s financial activities and require collateral, ensuring lender security while offering the company flexibility in operations.
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